Auckland is officially the hottest city in the world for luxury homes, according to an international real estate company.
Our largest city took the top spot in Christie's International Real Estate's Luxury Defined report due to a large increase in the number of luxury homes sold.
The report highlighted our lack of a capital gains tax, stamp duty and visa requirements as positives for those wanting to snap up luxury real estate.
The huge increase in sales of luxury homes combined with the speed in which they are being sold has pushed us to the top of the chart. Toronto topped last year's list.
There was a 63 percent rise in sales of homes worth more than $1 million, with national and international buyers encouraged by Auckland's strong economy and the ease of buying, the report said.
Newshub
